Three government ministries the Ministries of Commerce, Industry and Energy, Science and Technology and Information and Communication have convened a policy coordination meeting with leaders of the nation's five business associations in Seoul Monday.

During the meeting, the three ministries are expected to agree on investing a total of nearly one trillion won in research and development this year upon finalizing the government's directives for technology reform policies and related investment.

The meeting is also expected to result in the announcement of the establishment of an ad hoc committee for next-generation growth engines.